The technological perspective: Tom Higgins, CEO of Gold-i explains the global considerations of the Brexit
The biggest impact for Gold-i will be on recruitment, says Tom Higgins, CEO of Gold-i.
Almost a day has passed since the final votes were counted and Britain’s electorate demonstrated a 52% majority in favor of the United Kingdom’s exit from the European Union.
Since the final votes were counted and the outcome became clear, the global electronic trading sector, from the interbank Tier 1 FX dealers that stayed in the office all night in order to use manual, voice and algorithmic methods in order to manage the very close nature of the polling and ensure the markets were navigated with as much aplomb as possible, to the liquidity providers which applied themselves to ensuring that any shortages were managed once the banks increased spread on GBP pairs by half a cent in the early hours of the morning, have committed substantial effort to ensuring smoothness as best possible during this volatile period.
As this is a global industry, it is also of merit and great interest to take a look at how the prominent technology providers that integrate systems across the entire retail and institutional FX sector have responded to the result of the referendum.
Today, FinanceFeeds spoke to Tom Higgins, CEO and founder of Gold-i, who explained “I am shocked about the results but I am a firm believer that from every adverse situation, there’s always something positive that can come out of it.
As a technology business focusing on the financial markets, for us the opportunity will be to focus on our risk management tools. Clients with the most technically advanced risk management solutions will have the greatest control of their risk and therefore a greater opportunity to make more money.
Mr. Higgins further explained “As a Guildford-based business, we have a global client base and software which is highly in demand by retail brokers worldwide. I am confident that Gold-i will continue to thrive regardless of the EU decision as we are a global business, not just dependent on EU trade.”
In conclusion, Mr. Higgins took a look at how the new structure could potentially impact recruitment within the technology sector. “The biggest impact for Gold-i will be on recruitment” he said.
“We have recruited very talented EU citizens into the business – and although I was relieved to hear today that the Government plans to allow current EU employees to remain in the country, I am concerned about the skills gap moving forward.
We will undoubtedly need a new system in place – perhaps like the Australian points system – to be able to recruit skilled workers into roles which we are not able to fill with UK citizens. It’s important for the UK economy to be able to get the best talent into our businesses” he said.
